YIT to sign a contract on a warehouse complex construction and renovation in Riga, Latvia

YIT Corporation Investor News November 23, 2018 at 12:45 p.m.

Rimi warehouse Latvia
Rimi warehouse Latvia

YIT and Rimi has signed an agreement on constructing and renovating a warehouse complex in Riga, Latvia. The value of the contract is approximately EUR 37 million. The construction will begin in beginning of December and it will be completed in the end of May 2020. The project is booked in the order backlog of the fourth quarter.

The contract covers the construction of a new warehouse building of approximately 37,000 sq.m. including a cold store area and office, and renovation of the existing warehouse building of approximately 27,500 sq.m.

Rimi Latvia chain has 123 stores and five formats: 32 Rimi Hyper, 29 Rimi Super, 32 Rimi Mini, 24 Supernetto and six Rimi Express stores. Rimi and Supernetto stores are operating in 27 cities and towns of Latvia.

For further information, please contact:

Hanna Jaakkola, Vice President, Investor Relations, YIT Corporation, tel. +358 40 5666 070, hanna.jaakkola@yit.fi  

Esa Neuvonen, Executive Vice President, Business Premises, YIT Corporation, tel. +358 40 500 1003, esa.neuvonen@yit.fi


Hanna Jaakkola

Vice President, Investor Relations

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

YIT is the largest Finnish and significant North European construction company. We develop and build apartments, business premises and entire areas. We are also specialized in demanding infrastructure construction and paving.  Together with our customers our 10,000 professionals are creating more functional, more attractive and more sustainable cities and environments. We work in 11 countries: Finland, Russia, Scandinavia, the Baltic States, the Czech Republic, Slovakia and Poland. The new YIT was born when over 100-year-old YIT Corporation and Lemminkäinen Corporation merged on February 1, 2018. Our pro forma revenue for 2017 was over EUR 3.8 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com